A town council has switched its banking to a new provider.
Lewes Town Council has moved its accounts to Unity Trust Bank, an ethical UK bank that supports organisations delivering social, economic and environmental benefits.
Councillor James Herbert, who led the switch through the council’s finance committee, said: “We now bank and invest with an ethical bank, and have a better rate of interest than we were getting before as a cherry on top.
“It is one of Lewes Town Council’s top priorities to de-invest from unethical companies that are making the world hotter.
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“We are proud to invest the money we receive from council tax into an ethical bank, generating income that we can then reinvest in the town of Lewes.”
The council previously banked with a high street provider, but found its systems cumbersome and costly.
After researching ethical investment options, the finance committee selected Unity Trust Bank for its alignment with the council’s values.
Councillor Nick Tigg, former chair of the finance committee, said: “This is a win-win for Lewes: a good rate of interest, from an ethical bank, generating money that can be spent on the town and its communities.”
The council is now reviewing its procurement strategy to improve ethical decision-making.
